Registered number: 01164901
FOR THE YEAR ENDED 30 SEPTEMBER 2025
EYRE & ELLISTON HOLDINGS LIMITED
COMPANY INFORMATION
DIRECTORS OF MAIN GROUP COMPANIES
Eyre & Elliston Limited
J R Eyre FCA (Chairman)
W Cannon (Managing)
T Cannon
R W White
J C M Eyre
C Wright
Eyre & Elliston Limited
J R Eyre FCA (Chairman)
W Cannon (Managing)
T Cannon
R W White
J C M Eyre
C Wright
EYRE & ELLISTON HOLDINGS LIMITED
CONTENTS
EYRE & ELLISTON HOLDINGS LIMITED
CHAIRMAN'S STATEMENT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The chairman presents his statement for the period.
Ladies and Gentlemen,
2025 has been a year of consolidation following the sale of our compressed air subsidiary.
Sales volumes grew despite a very weak UK market but the margin gain from this was negated by increases in our operating costs, primarily from the substantial increase in employer NI taxation together with general inflation.
I stated last year that we had strengthened our senior management team with the benefits unlikely to show before our 25/26 year, so I am pleased to report that 8 months into this year we are now seeing some sales growth in a market which remains weak.
We expect this to continue and should result in an upturn in profitability for the current year.
Best wishes to you all.
John Eyre
2025 has been a year of consolidation following the sale of our compressed air subsidiary.
Sales volumes grew despite a very weak UK market but the margin gain from this was negated by increases in our operating costs, primarily from the substantial increase in employer NI taxation together with general inflation.
I stated last year that we had strengthened our senior management team with the benefits unlikely to show before our 25/26 year, so I am pleased to report that 8 months into this year we are now seeing some sales growth in a market which remains weak.
We expect this to continue and should result in an upturn in profitability for the current year.
Best wishes to you all.
John Eyre
NameJohn Eyre
Group Chairman
Group Chairman
Date25 June 2026
Page 1
EYRE & ELLISTON HOLDINGS LIMITED
GROUP STRATEGIC REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The directors present their strategic report detailing the group's performance during the year ended 30September 2025.
Principal activity
The principal activity of the group is that of distributors of electrical products.
Principal activity
The principal activity of the group is that of distributors of electrical products.
The directors consider the results for the year to be satisfactory, sales volume from continuing operations grew despite a weak UK market but the margin gain from this was negated by increases in operating costs, primarily from the substantial increase in employer NI taxation together with general inflation.
During last year we strengthened our senior management team with the benefits unlikely to show before our 25/26 year – 8 months into this year we are seeing sales growth in a market which remains weak. We expect this to continue, and it should result in an upturn in profitability for the current year.
The group continues to hold a significant cash balance and the group reported a pre-tax profit of £1,582k.
During last year we strengthened our senior management team with the benefits unlikely to show before our 25/26 year – 8 months into this year we are seeing sales growth in a market which remains weak. We expect this to continue, and it should result in an upturn in profitability for the current year.
The group continues to hold a significant cash balance and the group reported a pre-tax profit of £1,582k.
The board monitors the group’s performance in a number of ways including key performance indicators. Thekey financial indicators for 2025, together with the comparative for 2024 are as follows:
2025 2024
£'000 £'000
Turnover 72,390 74,036
Gross margin 7.59% 7.50%
Pre-tax profit 1,582 1,829
The turnover indicator represents the value of goods delivered to customers in the year and measures sales growth or decline in value terms.
The gross margin is calculated by dividing gross profit by turnover and measures the total profitability of product sales.
Pre-tax profit is the profit generated by the group from operations before tax. This indicator measures overall profitability of the business for the year.
The board also considers the following key non-financial performance indicators:
Customer mix measured against plans
Marketing and sales activities measured against results
These non-financial indicators are reviewed regularly by the board.
2025 2024
£'000 £'000
Turnover 72,390 74,036
Gross margin 7.59% 7.50%
Pre-tax profit 1,582 1,829
The turnover indicator represents the value of goods delivered to customers in the year and measures sales growth or decline in value terms.
The gross margin is calculated by dividing gross profit by turnover and measures the total profitability of product sales.
Pre-tax profit is the profit generated by the group from operations before tax. This indicator measures overall profitability of the business for the year.
The board also considers the following key non-financial performance indicators:
Customer mix measured against plans
Marketing and sales activities measured against results
These non-financial indicators are reviewed regularly by the board.
Page 2
EYRE & ELLISTON HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Risk is present in all businesses. The directors consider the major risks and uncertainties at present are:
Customer mix
There is a risk that the group becomes too dependent on a particular type of customer and efforts are made to ensure that our exposure to any particular type of customer is minimised by ensuring a varied mix of customers at branch level.
Warranties
The group does not itself give warranties but does pass on manufacturers’ warranties.
Insurance risks
The group insures its business assets against insurable risks as it deems appropriate.
Customer mix
There is a risk that the group becomes too dependent on a particular type of customer and efforts are made to ensure that our exposure to any particular type of customer is minimised by ensuring a varied mix of customers at branch level.
Warranties
The group does not itself give warranties but does pass on manufacturers’ warranties.
Insurance risks
The group insures its business assets against insurable risks as it deems appropriate.
Eyre & Elliston Holdings Limited: Stakeholder Engagement
The Board of Directors at Eyre & Elliston Holdings Ltd, both individually and together, have a legal responsibility under section 172 of the Companies Act 2006 to act in the way we consider, in good faith, would be most likely to promote the group’s success for the benefit of its key stakeholders as a whole. The directors recognise that building strong relationships with our stakeholders will enable the group to deliver on its long term goals and operate the business in a sustainable way.
Promoting the group’s success for its members
Eyre & Elliston Ltd is one of the largest independent Electrical Wholesalers in the UK and proudly benefits from a long standing reputation for offering the highest level of service to our varied customer base. Our structure promotes locally based branches around the country to provide a quality assured level of service to our valued customers utilising locally employed expertise.
Engaging with stakeholders
Employees
We regard our employees as our most valuable asset and work hard to maintain a motivated, educated and experienced workforce that in turn offers the highest standard of service to our customers. The directors are committed to developing a culture of inclusion, ensuring training and development opportunities are provided and keeping staff informed through our internal network. We maintain long term training programmes for all staff which are conducted on a local and national basis utilising the knowledge and expertise of our suppliers and externally sourced professionals.
We also retain a strong ethic of internal promotion and career progression and actively recognise employee success and loyalty.
We recognise the importance of communication with our employees and we actively seek opportunities to engage with our staff. Employees are made aware of the financial and economic factors affecting the achievement of the group and the way in which their personal contributions are of fundamental importance to the future success of the business. We welcome feedback from all of our employees and listen carefully to any suggestions or proposals of how we can improve the way we work.
Full and fair consideration is given to the employment of disabled persons and the group has made, and will continue to make, every effort to retain and assist any individuals disabled in the course of their employment and help with their rehabilitation.
The Board of Directors at Eyre & Elliston Holdings Ltd, both individually and together, have a legal responsibility under section 172 of the Companies Act 2006 to act in the way we consider, in good faith, would be most likely to promote the group’s success for the benefit of its key stakeholders as a whole. The directors recognise that building strong relationships with our stakeholders will enable the group to deliver on its long term goals and operate the business in a sustainable way.
Promoting the group’s success for its members
Eyre & Elliston Ltd is one of the largest independent Electrical Wholesalers in the UK and proudly benefits from a long standing reputation for offering the highest level of service to our varied customer base. Our structure promotes locally based branches around the country to provide a quality assured level of service to our valued customers utilising locally employed expertise.
Engaging with stakeholders
Employees
We regard our employees as our most valuable asset and work hard to maintain a motivated, educated and experienced workforce that in turn offers the highest standard of service to our customers. The directors are committed to developing a culture of inclusion, ensuring training and development opportunities are provided and keeping staff informed through our internal network. We maintain long term training programmes for all staff which are conducted on a local and national basis utilising the knowledge and expertise of our suppliers and externally sourced professionals.
We also retain a strong ethic of internal promotion and career progression and actively recognise employee success and loyalty.
We recognise the importance of communication with our employees and we actively seek opportunities to engage with our staff. Employees are made aware of the financial and economic factors affecting the achievement of the group and the way in which their personal contributions are of fundamental importance to the future success of the business. We welcome feedback from all of our employees and listen carefully to any suggestions or proposals of how we can improve the way we work.
Full and fair consideration is given to the employment of disabled persons and the group has made, and will continue to make, every effort to retain and assist any individuals disabled in the course of their employment and help with their rehabilitation.
Page 3
EYRE & ELLISTON HOLDINGS LIMITED
GROUP STRATEGIC REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Customers
The group’s strategic goals include growth and expansion through the acquisition of new branches. We also continue to target new customers and develop our strong relationship with existing suppliers. We are developing our online presence to meet the increased business requirements of our customers who wish to order on line for next day collection or delivery.
We successfully achieved the industry recognised standard of BS5750 in 1992 and have since maintained recognition to BS EN ISO9001:2015 at all of our audited sites. We believe that this is a strong indicator of our commitment of the highest possible standards of service and operation to all of our customers.
Suppliers
We maintain a policy of limiting our purchases to carefully chosen suppliers where a mutually beneficial business relationship can be maintained.
Our suppliers are expected to provide products of the highest quality which meet all recognised industry legislation and standards in addition to reaching and maintaining our own expectation of quality of service, competitiveness and social responsibility.
We are committed to maintain the highest levels of ethical and moral fairness in all of our business practices to ensure compliance with all current relevant law and regulation, in addition to the expectation and requirements of our trading partners. The group considers payment on time is of paramount importance and we seek to adhere to all applicable payment terms.
Environment
The group will always adopt the principles of the “best practicable environmental option” whilst carrying out its responsibility with waste management services.
We carefully select the most efficient and economical vehicles within our own fleet and ensure that all delivery routines are managed effectively to reduce fuel consumption and emissions.
We promote the use of recyclable materials for packaging and maintain a policy of improving more efficient means of lighting, heating and insulation at all branch locations, thereby minimising energy usage. We strive to ensure all our buildings run safely and energy efficiently.
Community
We aim to minimise our operational impact whilst providing a positive contribution to the local communities in which we operate.
We encourage local recruitment and foster strong relationships with local educational establishments throughout the group network. The group often offers support towards many fundraising activities conducted by our employees in addition to those of our suppliers with recent support including donations made to CancerResearch and London Air Ambulance.
The group’s strategic goals include growth and expansion through the acquisition of new branches. We also continue to target new customers and develop our strong relationship with existing suppliers. We are developing our online presence to meet the increased business requirements of our customers who wish to order on line for next day collection or delivery.
We successfully achieved the industry recognised standard of BS5750 in 1992 and have since maintained recognition to BS EN ISO9001:2015 at all of our audited sites. We believe that this is a strong indicator of our commitment of the highest possible standards of service and operation to all of our customers.
Suppliers
We maintain a policy of limiting our purchases to carefully chosen suppliers where a mutually beneficial business relationship can be maintained.
Our suppliers are expected to provide products of the highest quality which meet all recognised industry legislation and standards in addition to reaching and maintaining our own expectation of quality of service, competitiveness and social responsibility.
We are committed to maintain the highest levels of ethical and moral fairness in all of our business practices to ensure compliance with all current relevant law and regulation, in addition to the expectation and requirements of our trading partners. The group considers payment on time is of paramount importance and we seek to adhere to all applicable payment terms.
Environment
The group will always adopt the principles of the “best practicable environmental option” whilst carrying out its responsibility with waste management services.
We carefully select the most efficient and economical vehicles within our own fleet and ensure that all delivery routines are managed effectively to reduce fuel consumption and emissions.
We promote the use of recyclable materials for packaging and maintain a policy of improving more efficient means of lighting, heating and insulation at all branch locations, thereby minimising energy usage. We strive to ensure all our buildings run safely and energy efficiently.
Community
We aim to minimise our operational impact whilst providing a positive contribution to the local communities in which we operate.
We encourage local recruitment and foster strong relationships with local educational establishments throughout the group network. The group often offers support towards many fundraising activities conducted by our employees in addition to those of our suppliers with recent support including donations made to CancerResearch and London Air Ambulance.
This report was approved by the board on 25 June 2026 and signed on its behalf.
Page 4
EYRE & ELLISTON HOLDINGS LIMITED
DIRECTORS' REPORT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The directors present their report and the financial statements for the year ended 30 September 2025.
The directors who served during the year were:
The profit for the year, after taxation, amounted to £1,122 thousand (2024 - £1,346 thousand).
Particulars of dividends paid and recommended are detailed in note 11 to the financial statements.
The directors are responsible for preparing the Group Strategic Report, the Directors' Report and the consolidated financial statements in accordance with applicable law and regulations.
In preparing these financial statements, the directors are required to:
∙select suitable accounting policies for the group's financial statements and then apply them consistently;
∙make judgements and accounting estimates that are reasonable and prudent;
∙state whether applicable UK Accounting Standards have been followed, subject to any material departures disclosed and explained in the financial statements;
∙prepare the financial statements on the going concern basis unless it is inappropriate to presume that the group will continue in business.
The directors are responsible for keeping adequate accounting records that are sufficient to show and explain the company's transactions and disclose with reasonable accuracy at any time the financial position of the company and the group and to enable them to ensure that the financial statements comply with the Companies Act 2006. They are also responsible for safeguarding the assets of the company and the group and hence for taking reasonable steps for the prevention and detection of fraud and other irregularities.
Page 5
EYRE & ELLISTON HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
The group’s financial instruments comprise cash and cash equivalents, and items such as trade debtors and trade creditors that arise directly from the group’s operations. The main purpose of these instruments is to provide finance for the group’s operations.
The main risks arising from the group’s financial instruments are:
Bad debt risk
The group, where appropriate, has insurance in place and ensures a wide spread of customers.
Price risk
Although the group does not import goods itself, it is subject to price fluctuations caused by foreign exchange movements affecting the group’s suppliers.
The main risks arising from the group’s financial instruments are:
Bad debt risk
The group, where appropriate, has insurance in place and ensures a wide spread of customers.
Price risk
Although the group does not import goods itself, it is subject to price fluctuations caused by foreign exchange movements affecting the group’s suppliers.
Page 6
EYRE & ELLISTON HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Energy efficiency action taken within the business year
∙The conversion from ICE vehicles to PHEV was completed this year, bringing the average Co2 of company cars down to below 35g of Co2.
∙We are now converting some of the PHEV vehicles to BEV (Battery electric vehicles) within this next change cycle.
∙The program of reviewing energy efficient lighting continues with more sites having new low energy lighting installed. All of our Head Office and Group Services buildings now run energy efficient lighting.
∙All desk-based IT infrastructure now runs a low energy power management structure, turning off or putting into sleep mode any equipment unused in a matter of a few minutes.
∙Our electricity supply contract now has a certified green energy supply clause, decreasing our reliance on fossil fuel-based generation.
Page 7
EYRE & ELLISTON HOLDINGS LIMITED
DIRECTORS' REPORT (CONTINUED)
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Each of the persons who are directors at the time when this Directors' report is approved has confirmed that:
• so far as the director is aware, there is no relevant audit information of which the company and group's
auditors are unaware, and
• the director has taken all the steps that ought to have been taken as a director in order to be aware of any
relevant audit information and to establish that the company and the group's auditors are aware of that
information.
• so far as the director is aware, there is no relevant audit information of which the company and group's
auditors are unaware, and
• the director has taken all the steps that ought to have been taken as a director in order to be aware of any
relevant audit information and to establish that the company and the group's auditors are aware of that
information.
The auditor, Shorts, will be proposed for reappointment in accordance with section 485 of the Companies Act 2006.
This report was approved by the board on 25 June 2026 and signed on its behalf.
Page 8
EYRE & ELLISTON HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EYRE & ELLISTON HOLDINGS LIMITED
We have audited the financial statements of Eyre & Elliston Holdings Limited (the 'parent company') and its subsidiaries (the 'group') for the year ended 30 September 2025, which comprise the Consolidated Statement of Comprehensive Income, the Consolidated Balance Sheet, the Company Balance Sheet, the Consolidated Statement of Cash Flows, the Consolidated Statement of Changes in Equity, the Company Statement of Changes in Equity and the related notes, including a summary of significant accounting policies. The financial reporting framework that has been applied in their preparation is applicable law and United Kingdom Accounting Standards, including Financial Reporting Standard 102 ‘The Financial Reporting Standard applicable in the UK and Republic of Ireland' (United Kingdom Generally Accepted Accounting Practice).
In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate.
Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's or the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.
Our responsibilities and the responsibilities of the directors with respect to going concern are described in the relevant sections of this report.
Page 9
EYRE & ELLISTON HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EYRE & ELLISTON HOLDINGS LIMITED (CONTINUED)
The other information comprises the information included in the Annual report other than the financial statements and our Auditor's Report thereon. The directors are responsible for the other information contained within the Annual report. Our opinion on the financial statements does not cover the other information and, except to the extent otherwise explicitly stated in our report, we do not express any form of assurance conclusion thereon. Our responsibility is to read the other information and, in doing so, consider whether the other information is materially inconsistent with the financial statements or our knowledge obtained in the course of the audit, or otherwise appears to be materially misstated. If we identify such material inconsistencies or apparent material misstatements, we are required to determine whether this gives rise to a material misstatement in the financial statements themselves. If, based on the work we have performed, we conclude that there is a material misstatement of this other information, we are required to report that fact.
We have nothing to report in this regard.
In our opinion, based on the work undertaken in the course of the audit:
∙the information given in the Group Strategic Report and the Directors' Report for the financial year for which the financial statements are prepared is consistent with the financial statements; and
∙the Group Strategic Report and the Directors' Report have been prepared in accordance with applicable legal requirements.
In the light of the knowledge and understanding of the group and the parent company and its environment obtained in the course of the audit, we have not identified material misstatements in the Group Strategic Report or the Directors' Report.
Page 10
EYRE & ELLISTON HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EYRE & ELLISTON HOLDINGS LIMITED (CONTINUED)
Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an Auditor's Report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with ISAs (UK) will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these Group financial statements.
Irregularities, including fraud, are instances of non-compliance with laws and regulations. We design procedures in line with our responsibilities, outlined above, to detect material misstatements in respect of irregularities, including fraud. The extent to which our procedures are capable of detecting irregularities, including fraud is detailed below:
Our approach to identifying and assessing the risks of material misstatement in respect of irregularities, including fraud and non-compliance with laws and regulations, was as follows:
∙the engagement team collectively had the appropriate competence, capabilities and skills to identify and recognise non-compliance with applicable laws and regulations;
∙through discussions with the directors and other management and from our commercial knowledge, we identified the laws and regulations applicable to the group and company; and
∙focusing on the specific laws and regulations which we considered may have a direct material effect on the financial statements or the operations of the company, we assessed the extent of compliance with those laws and regulations identified above through making enquiries of management and inspecting relevant correspondence.
We assessed the susceptibility of the group and company’s financial statements to material misstatement, including obtaining an understanding of how fraud might occur, by:
∙making enquiries of management as to where they considered there was susceptibility to fraud, their knowledge of actual, suspected and alleged fraud; and
∙considering the internal controls in place to mitigate risks of fraud and non-compliance with laws and regulations.
Page 11
EYRE & ELLISTON HOLDINGS LIMITED
INDEPENDENT AUDITOR'S REPORT TO THE MEMBERS OF EYRE & ELLISTON HOLDINGS LIMITED (CONTINUED)
Auditors' responsibilities for the audit of the financial statements (continued)
To address the risk of fraud through management bias and override of controls, we:
To address the risk of fraud through management bias and override of controls, we:
∙performed analytical procedures to identify any unusual or unexpected relationships;
∙reviewed the general ledger entries during the year to identify unusual transactions;
∙assessed whether judgements and assumptions made in determining the accounting estimates were indicative of potential bias; and
∙investigated the rationale behind significant or unusual transactions.
In response to the risk of irregularities and non-compliance with laws and regulations, we designed procedures which included, but were not limited to:
∙agreeing financial statement disclosures to underlying supporting documentation;
∙reading the minutes of meetings of those charged with governance;
∙enquiring of management as to actual and potential litigation and claims;
∙considering relationships with HMRC and other relevant regulators; and
∙reviewing legal and professional costs to identify any indicators of litigation.
Because of the inherent limitations of an audit, there is a risk that we will not detect all irregularities, including those leading to a material misstatement in the financial statements or non-compliance with regulation. This risk increases the more that compliance with a law or regulation is removed from the events and transactions reflected in the financial statements, as we will be less likely to become aware of instances of non-compliance. The risk is also greater regarding irregularities occurring due to fraud rather than error, as fraud involves intentional concealment, forgery, collusion, omission or misrepresentation.
A further description of our responsibilities for the audit of the financial statements is located on the FinancialReporting Council's website at: www.frc.org.uk/auditorsresponsibilities. This description forms part of our Auditor's Report.
This report is made solely to the company's members, as a body, in accordance with Chapter 3 of Part 16 of the Companies Act 2006. Our audit work has been undertaken so that we might state to the company's members those matters we are required to state to them in an Auditor's Report and for no other purpose. To the fullest extent permitted by law, we do not accept or assume responsibility to anyone other than the company and the company's members, as a body, for our audit work, for this report, or for the opinions we have formed.
for and on behalf of
Chartered Accountants
Statutory Auditor
2 Ashgate Road
Derbyshire
S40 4AA
Page 12
EYRE & ELLISTON HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Page 13
EYRE & ELLISTON HOLDINGS LIMITED
REGISTERED NUMBER: 01164901
CONSOLIDATED BALANCE SHEET
AS AT 30 SEPTEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 June 2026.
The notes on pages 20 to 36 form part of these financial statements.
Page 14
EYRE & ELLISTON HOLDINGS LIMITED
REGISTERED NUMBER: 01164901
COMPANY BALANCE SHEET
AS AT 30 SEPTEMBER 2025
The financial statements were approved and authorised for issue by the board and were signed on its behalf on 25 June 2026 .
The notes on pages 20 to 36 form part of these financial statements.
Page 15
EYRE & ELLISTON HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Page 16
EYRE & ELLISTON HOLDINGS LIMITED
COMPANY STATEMENT OF CHANGES IN EQUITY
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Page 17
EYRE & ELLISTON HOLDINGS LIMITED
CONSOLIDATED STATEMENT OF CASH FLOWS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Page 18
EYRE & ELLISTON HOLDINGS LIMITED
CONSOLIDATED ANALYSIS OF NET DEBT
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Page 19
EYRE & ELLISTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Eyre & Elliston Holdings Limited is a private company limited by shares and incorporated in England. Itsregistered office is 191 Chatsworth Road, Chesterfield, Derbyshire, S40 2BD and its registered number is 01164901.
The principal activity of the group is that of distributors of electrical products.
The company's functional and presentational currency is pounds sterling, and the financial statements are presented in round thousands of pounds.
The principal activity of the group is that of distributors of electrical products.
The company's functional and presentational currency is pounds sterling, and the financial statements are presented in round thousands of pounds.
2.Accounting policies
The financial statements have been prepared under the historical cost convention unless otherwise specified within these accounting policies and in accordance with Financial Reporting Standard 102, the Financial Reporting Standard applicable in the UK and Republic of Ireland, and the Companies Act 2006.
The preparation of financial statements in compliance with FRS 102 requires the use of certain critical accounting estimates. It also requires group management to exercise judgement in applying the group's accounting policies (see note 3).
The company has taken advantage of the exemption allowed under section 408 of the CompaniesAct 2006 and has not presented its own Statement of Comprehensive Income in these financial statements.
The following principal accounting policies have been applied:
The consolidated financial statements present the results of the company and its own subsidiaries ("the group") as if they form a single entity. Intercompany transactions and balances between group companies are therefore eliminated in full.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 April 2014.
The consolidated financial statements incorporate the results of business combinations using the purchase method. In the Balance Sheet, the acquiree's identifiable assets, liabilities and contingent liabilities are initially recognised at their fair values at the acquisition date. The results of acquired operations are included in the Consolidated Statement of Comprehensive Income from the date on which control is obtained. They are deconsolidated from the date control ceases.
In accordance with the transitional exemption available in FRS 102, the group has chosen not to retrospectively apply the standard to business combinations that occurred before the date of transition to FRS 102, being 01 April 2014.
The Directors have reviewed the working capital of the group, in light of the forecasts prepared
and believe that the group has sufficient financial resources to continue for the foreseeable future.
Therefore, the financial statements have been prepared on a going concern basis.
and believe that the group has sufficient financial resources to continue for the foreseeable future.
Therefore, the financial statements have been prepared on a going concern basis.
Page 20
EYRE & ELLISTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2.Accounting policies (continued)
Turnover from the sale of goods is recognised when the group has transferred the significant risks and rewards of ownership to the buyer.
Rendering of services
Turnover from a contract to provide services is recognised in the period in which the services are provided in accordance with the stage of completion of the contract.
Cost of sales consists of all costs to the point of sale, including warehouse and transportation costs, and all costs of operating distribution outlets, stated net of discounts on purchases.
Page 21
EYRE & ELLISTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2.Accounting policies (continued)
Page 22
EYRE & ELLISTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2.Accounting policies (continued)
Depreciation is charged so as to allocate the cost of assets less their residual value over their estimated useful lives, as follows.
Freehold land is not depreciated. Depreciation on other assets is charged so as to allocate the cost of assets, less their residual value, over their estimated useful lives. The principal depreciation rates used are as follows:
The assets' residual values, useful lives and depreciation methods are reviewed, and adjusted prospectively if appropriate, or if there is an indication of a significant change since the last reporting date.
Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are recognised in profit or loss.
Other fixed asset investments are stated at cost less accumulated impairment loss.
At each balance sheet date, stocks are assessed for impairment. If stock is impaired, the carrying amount is reduced to its estimated selling price less costs to complete and sell. The impairment loss is recognised immediately in profit or loss.
Page 23
EYRE & ELLISTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2.Accounting policies (continued)
Provisions are measured as the best estimate of the amount required to settle the obligation, taking into account the related risks and uncertainties.
The group only enters into basic financial instrument transactions that result in the recognition of financial assets and liabilities like trade and other debtors and creditors, loans from banks and other third parties, loans to related parties and investments in ordinary shares.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Consolidated statement of comprehensive income.
Debt instruments (other than those wholly repayable or receivable within one year), including loans and other accounts receivable and payable, are initially measured at present value of the future cash flows and subsequently at amortised cost using the effective interest method. Debt instruments that are payable or receivable within one year, typically trade debtors and creditors, are measured, initially and subsequently, at the undiscounted amount of the cash or other consideration expected to be paid or received. However, if the arrangements of a short-term instrument constitute a financing transaction, like the payment of a trade debt deferred beyond normal business terms or in case of an out-right short-term loan that is not at market rate, the financial asset or liability is measured, initially at the present value of future cash flows discounted at a market rate of interest for a similar debt instrument and subsequently at amortised cost, unless it qualifies as a loan from a director in the case of a small company, or a public benefit entity concessionary loan.
Financial assets that are measured at cost and amortised cost are assessed at the end of each reporting period for objective evidence of impairment. If objective evidence of impairment is found, an impairment loss is recognised in the Consolidated statement of comprehensive income.
Page 24
EYRE & ELLISTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
2.Accounting policies (continued)
Critical judgements in applying the entity’s accounting policies
No significant judgements have had to be made by management in preparing these financial statements.
Critical accounting estimates and assumptions
Preparation of the financial statements requires management to make significant judgements and estimates. The resulting accounting estimates will, by definition, seldom equal the related actual results. The estimates and assumptions that have a significant risk of causing a material adjustment to the carrying amounts of assets and liabilities within the next financial year are as follows:
Stock provisioning
The group holds a wide range of stock, some of which is subject to changing consumer demands, sometimes dictated by regulatory changes, and fashion trends. As a result it is necessary to consider the recoverability of the cost of stock and the associated provisioning required. When calculating the stock provision, management considers the nature and condition of the stock, as well as applying assumptions around its anticipated future saleability. See note 16 for the net carrying amount of stock, stated after the associated provision.
Impairment of debtors
The group makes an estimate of the recoverable value of trade and other debtors. When assessing impairment of debtors, management considers factors including the current credit rating of the debtor, the ageing profile of debtors and historical experience. See note 17 for the net carrying amount of debtors, stated after the associated impairment provision.
Page 25
EYRE & ELLISTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Page 26
EYRE & ELLISTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Page 27
EYRE & ELLISTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Page 28
EYRE & ELLISTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
10.Taxation (continued)
As a result of the strike off of a number of non-trading subsidiaries within the group in prior years, capitallosses totalling £3,047,000 (2024: £3,047,000) have arisen which have not been utilised to date. No deferred tax asset has been recognised in respect of these capital losses as their recovery is considered sufficiently uncertain at this time. These capital losses are capable of being used in the future to offset capital gains arising anywhere in the group.
In accordance with the exemption permitted by Section 408 of the Companies Act 2006, the parent company has not presented its own profit and loss account. The profit for the year dealt with in the accounts of the parent company is £869,000 (2024: £4,522,000).
Page 29
EYRE & ELLISTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
|
|
||||||
|
|
||||||
|
|
||||||
|
|
||||||
|
|
||||||
|
|
||||||
|
|
||||||
|
|
||||||
|
|
||||||
|
|
||||||
|
|
||||||
|
|
||||||
|
|
||||||
|
|
||||||
|
|
||||||
|
|
||||||
|
|
Page 30
EYRE & ELLISTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
||||
|
|
Page 31
EYRE & ELLISTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
|
|
||
|
|
||
|
|
||
|
|
||
|
|
||
|
|
||
|
|
||
|
|
||
|
|
||
|
|
||
|
|
Page 32
EYRE & ELLISTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Subsidiary undertakings (continued)
|
|
||
|
|
||
|
|
||
|
|
||
|
|
The 2025 valuations were made by the Directors, on an open market value for existing use basis.
Page 33
EYRE & ELLISTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Page 34
EYRE & ELLISTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
|
|
|||
|
|
|||
|
|
|||
|
|
|||
|
|
|||
|
|
|
|
|||
|
|
Page 35
EYRE & ELLISTON HOLDINGS LIMITED
NOTES TO THE FINANCIAL STATEMENTS
FOR THE YEAR ENDED 30 SEPTEMBER 2025
Share premium account
Profit and loss account
The group participates in the Eyre & Elliston group defined contribution pension scheme. The assets of the scheme are held separately from those of the group in an independently administered fund.
The pension cost charge represents contributions payable by the group to the fund and amounted to £375,000 (2024: £391,000). An amount of £nil (2024: £nil) was owing to the fund at the yearend.
The pension cost charge represents contributions payable by the group to the fund and amounted to £375,000 (2024: £391,000). An amount of £nil (2024: £nil) was owing to the fund at the yearend.
Page 36